PUBLISHER: Grand View Research | PRODUCT CODE: 1574922
PUBLISHER: Grand View Research | PRODUCT CODE: 1574922
The global field-erected cooling tower market size was estimated at USD 2.10 billion in 2023 and is projected to grow at a CAGR of 3.5% from 2024 to 2030. The rising demand for field-erected cooling towers is primarily due to the increasing need for large-scale industrial and power generation cooling solutions. As industries and power plants aim for higher efficiency and productivity, the requirement for effective cooling systems that can handle substantial thermal loads has become paramount. Field-erected cooling towers, known for their customizability and capacity to cool vast amounts of water, are becoming the go-to option for sectors such as power generation, petrochemicals, and heavy manufacturing. This surge in demand is driven by the global expansion of industrial activities and the need for more environmentally friendly cooling processes to better manage water usage and reduce thermal pollution.
The demand for field-erected cooling towers, encompassing dry, wet, and hybrid types, is witnessing a significant evolution, driven by the global need for efficient cooling solutions across various industries such as power generation, petrochemicals, and HVAC systems for large infrastructure projects. Dry cooling towers, favored for their minimal water usage, are becoming increasingly popular in regions facing water scarcity. On the other hand, wet cooling towers remain the choice for their efficiency and cost-effectiveness in applications where water availability is not a concern. Meanwhile, hybrid cooling towers, combining the benefits of both dry and wet systems, are gaining traction for their ability to offer operational flexibility and enhanced cooling efficiency, particularly in varying climatic conditions. This diversification in demand reflects the industry's move towards more sustainable and adaptable cooling solutions, catering to the specific needs and environmental regulations of different markets.
Global Field-Erected Cooling Tower Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global field-erected cooling tower market based on tower type, design, end use, and region: